Leon Manoff, executive managing director with Williams RealEstate, tells GlobeSt.com that the NPG deal and Viacom's1.3-million-square foot renewal and expansion are part of anincreasing trend. "Tenants are staying in place for a variety ofreasons, many related to cost," he says. "They might be able tofind space a little cheaper elsewhere, but after you factor inconstruction and moving expenses, it makes more sense torenew."

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Manoff, who represented NPG in the lease, says the deal alsoillustrates the appeal of the Hudson Square area. "It's become amedia hub," he says, noting that MTV Networks and New Yorkmagazine have relocated to the neighborhood in the past year and ahalf. The large floorplates of Hudson Square's office buildings areconducive to media operations, Manoff says, and the area itself"has developed a cachet."

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In a release, Manoff also cites Williams Real Estate's 16-yearrelationship with NPG parent Macmillan Publishers as a factor inthe deal's success. NPG publishes journals and online databasesacross the life, physical and applied sciences and, most recently,clinical medicine.

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Robert Constable of Cushman & Wakefield represented Trinity.Other tenants at One Hudson Square include the Art Institute of NewYork City, Morgan Stanley, Pricewaterhouse Coopers, Getty Imagesand Bliss Spa.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.